Global Metals PMIs Rise For Steel, Aluminum, And Copper
- The IHS/Markit Global Steel Users Purchasing Managers Index (PMI) rose from 45.7 in May to 49.3 in June, indicating a slight deterioration in the health of the global steel-using industry. The report said, “the downturn among global steel users eased further from April’s recent nadir in June, as new orders fell at a much slower rate. Output grew for the first time since January, driven by rising production at Asian users. However, employment continued to fall, while cost pressures increased due to higher steel prices.” Click here to read the full report.
- The IHS/Markit Global Aluminum Users Purchasing Managers Index (PMI) rose to 49.5 in June from 45.7 in May, signaling a softer decline in the health of the global aluminum-using industry. The reading was at its highest level in five months. The report noted, “For the first time since January, aluminum users reported an uplift in output, driven by higher production at US and Asian users,” but warned “the overall expansion was marginal, marking just a slight rebound from the downturn caused by the coronavirus disease 2019 (COVID-19) pandemic. Click here to read the full report.
- The IHS/Markit Global Copper Users Purchasing Managers Index (PMI) increased from 44.7 in May to 49.0 in June, signaling a slower decline in manufacturing conditions at the end of the second quarter. The report explained output and new orders both fell at slower rates, while employment numbers were curbed at the weakest pace since March. Cost pressures did rise leading to a slower cut in output charges. Click here to read the full report.
- As a reminder, all PMI readings can be found here.